Sears explores sale of its majority stake in Canadian arm

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Toronto: Sears Holdings Corp said on Wednesday that it was considering the sale of its 51 percent stake in Sears Canada Inc. a move that could mean all of the Canadian department store operator goes up for sale. Shares of Sears Canada jumped 4.7 percent in midday trading, while Sears Holdings, which is controlled by hedge fund billionaire Eddie Lampert, fell 0.8 percent, reversing earlier modest gains.

Reuters